Market Insights Health Medical Technology Medical Devices

General & Plastic Surgery Devices - India

India

In India, the General & Plastic Surgery Devices market market is anticipated to witness a significant growth in revenue, with projections indicating a figure of US$0.38bn in the year 2024.
Looking ahead, the market is expected to maintain a steady annual growth rate (CAGR 2024-2028) of 7.63%, leading to a market volume of US$0.51bn by the year 2028.
When compared globally, it is worth noting that the United States is predicted to generate the highest revenue in this market, with an estimated figure of US$10,150.00m in 2024.
India's growing middle class is fueling the demand for advanced general and plastic surgery devices in the medical technology market.

Key regions: China, Japan, Italy, United States, Netherlands

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Analyst Opinion

The General & Plastic Surgery Devices market in India has been experiencing significant growth in recent years.

Customer preferences: Customers in India are increasingly opting for cosmetic and reconstructive surgeries, leading to a higher demand for general and plastic surgery devices. This can be attributed to various factors such as increasing disposable income, rising awareness about aesthetic procedures, and the desire to enhance physical appearance. Additionally, the growing popularity of medical tourism in India has also contributed to the demand for these devices, as international patients seek affordable and high-quality healthcare services.

Trends in the market: One of the key trends in the General & Plastic Surgery Devices market in India is the adoption of minimally invasive procedures. Patients are increasingly opting for procedures that involve smaller incisions, shorter recovery time, and fewer complications. This trend has led to a higher demand for devices such as lasers, injectables, and other non-surgical treatments. Furthermore, technological advancements in the field of plastic surgery devices have also played a significant role in driving market growth. Advanced devices that offer precise and efficient results are gaining popularity among both surgeons and patients.

Local special circumstances: India has a large and diverse population, which presents unique challenges and opportunities for the General & Plastic Surgery Devices market. The country has a high prevalence of skin-related conditions, such as acne, pigmentation, and scars, which contribute to the demand for devices used in dermatological procedures. Additionally, cultural factors such as the importance placed on physical appearance and the desire for fairer skin have also influenced the market. These factors have led to the development of specific products and procedures tailored to the Indian market.

Underlying macroeconomic factors: India's economic growth and rising disposable income levels have had a positive impact on the General & Plastic Surgery Devices market. As people have more disposable income, they are more willing to spend on cosmetic procedures and invest in devices that offer long-term benefits. Furthermore, the government's focus on promoting medical tourism and improving healthcare infrastructure has also contributed to the growth of the market. With increasing investments in healthcare facilities and the availability of skilled medical professionals, India has become an attractive destination for both domestic and international patients seeking plastic surgery procedures. In conclusion, the General & Plastic Surgery Devices market in India is witnessing significant growth due to increasing customer preferences for cosmetic and reconstructive surgeries, the adoption of minimally invasive procedures, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected to present new opportunities for both domestic and international players in the coming years.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.